The demise of the car is already here. The car is an 85 year old man with heart disease, cancer, and worn out hips.
The poster describes body rust that has been patched, but rust never sleeps and once it gets to the body it continues to grow. The strut in the photo is blown as evidenced by being covered in oil and is likely no longer damping vertical movement. The power steering is noisy. Not to mention the inside of that engine.
Sure, the car may last a couple of years if driven gently. The owner may have some sentimental value of the car that may make it worth spending thousands of dollars. Barring that, any money spent on this car would be better used toward replacing it, when that time inevitably comes.